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CVS Caremark was founded as MedPartners, Inc. in 1993 in Birmingham, Alabama by several local businessmen as a physician practice management (PPM) company. [1] HealthSouth, New Enterprise Associates, and Richard M. Scrushy stepped in to provide the company with early financial backing.
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Express Scripts Holding Company is a pharmacy benefit management (PBM) organization. In 2017 it was the 22nd-largest company in the United States by total revenue as well as the largest pharmacy benefit management (PBM) organization in the United States. [2]
The logo for CVS Caremark, one of the three largest PBM companies in the US. In 2011 Caremark Rx was the nation's second-largest PBM. Caremark Rx was subject to a class action lawsuit in Tennessee, which alleged that Caremark kept discounts from drug manufacturers instead of sharing them with member benefit plans, secretly negotiated rebates ...
CVS Caremark manages the dispensing of prescription drugs for more than 75 million plan members through five mail order pharmacies, specialty pharmacies, long-term care pharmacies and national network of more than 68,000 retail pharmacies, consisting of approximately 41,000 chain pharmacies and 27,000 independent pharmacies.
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Merlo began his career at Peoples Drug, and joined CVS Pharmacy in 1990, when Peoples was acquired by CVS.He served as senior vice president of stores (January 1994 to March 1998), Executive Vice President – Stores (March 1998 to January 2007), executive vice president of CVS Caremark (January 2007 to May 2010), president of CVS Pharmacy (January 2007 to January 2010), and chief operating ...